Inogen’s (INGN) “Hold” Rating Reaffirmed at Needham & Company LLC

Inogen (NASDAQ:INGN)‘s stock had its “hold” rating reaffirmed by equities researchers at Needham & Company LLC in a report released on Friday,Benzinga reports.

Separately, StockNews.com upgraded shares of Inogen from a “sell” rating to a “hold” rating in a research note on Tuesday, August 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $7.00.

Inogen Stock Performance

NASDAQ:INGN opened at $9.46 on Friday. The company has a market capitalization of $224.39 million, a price-to-earnings ratio of -2.38 and a beta of 1.04. Inogen has a one year low of $4.49 and a one year high of $13.33. The stock has a 50-day simple moving average of $9.98 and a 200 day simple moving average of $9.36.

Inogen (NASDAQ:INGN) last issued its earnings results on Tuesday, August 6th. The medical technology company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.31. The company had revenue of $88.77 million during the quarter, compared to analyst estimates of $82.50 million. Inogen had a negative return on equity of 45.37% and a negative net margin of 28.30%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.42) EPS. On average, equities research analysts forecast that Inogen will post -1.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Inogen

Several large investors have recently added to or reduced their stakes in INGN. Meeder Asset Management Inc. bought a new position in shares of Inogen during the second quarter worth about $30,000. CWM LLC increased its stake in shares of Inogen by 2,185.9% in the second quarter. CWM LLC now owns 6,629 shares of the medical technology company’s stock valued at $54,000 after purchasing an additional 6,339 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of Inogen during the first quarter valued at approximately $81,000. Pitcairn Co. bought a new stake in shares of Inogen during the first quarter valued at approximately $86,000. Finally, Oppenheimer Asset Management Inc. bought a new position in Inogen in the 1st quarter worth approximately $121,000. 89.94% of the stock is owned by institutional investors and hedge funds.

About Inogen

Inogen, Inc, a medical technology company, develops, manufactures, and markets portable oxygen concentrators to patients, physicians and other clinicians, and third-party payors in the United States and internationally. Its oxygen concentrators are used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions.